home equity
Home Equity Basics: Chapter 3 quiz

If you think you've mastered the material in this chapter, take our quiz. After you click the ''submit'' button, the answers will appear below.

  1. Three factors determine whether a lender will offer you a home equity loan. Which of these is the correct combination?

    The desirability of your neighborhood, your credit rating and your income.
    Your credit history, your income and the loan-to-value ratio of your home.
    Your income, your creditworthiness and your outstanding debts.


  2. True or false: Home equity loans generally carry closing costs, home equity lines of credit do not.

    True
    False


  3. True or false. Only the lender has access to your credit reports.

    True
    False


-- Updated: April 1, 2006

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
MORTGAGE & REAL ESTATE NEWSLETTER

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.

advertisement

Ask Dr. Don

Too much debt, too few options

Dear Dr. Don, My husband and I have a $173,000 home equity line of credit, or HELOC, carrying an interest rate of 2.25 percent. It has a draw period coming to a close in March 2016. Our monthly payments are to jump at that... Read more

Partner Center
advertisement

Connect with us